Frazer Fearnhead

The House Crowd launches IFIsa

The House Crowd has introduced its first Innovative Finance Isa (IFIsa) product.

The P2P platform’s Isa will allow users to invest a minimum of £1,000 up to a maximum of £20,000 in any one tax year.

Funds will be automatically diversified across the whole of the House Crowd Isa property portfolio and can be transferred or withdrawn after the minimum investment term with three months’ notice.

The minimum investment term is three years, with interest at 7% paid out twice a year. 

No money transfers between accounts are allowed at present, but this is expected to become possible from June 2018. 

“We are very excited to be able to offer our investors the chance to benefit from our first IFIsa,” said Frazer Fearnhead, co-founder and CEO of the House Crowd (pictured above). 

“We believe this is the Isa that’s going to get Britain building and help solve the housing crisis. 

“We need to be able to utilise funds quickly and effectively, so we intend to limit initial investment to just £2m. 

“We will release other IFIsa products in [the] 2018 tax year with different terms and criteria.” 

Money invested will be secured against the underlying value of property, meaning they are secured by legal charges against land or property assets in accordance with House Crowd Finance’s underwriting manuals.

“It’s our mission at the House Crowd to help clients build themselves a better financial future,” added Frazer.

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